The US stock market’s Q3 earnings season is about to begin, with the market focused on whether earnings can support high valuations

AT A GLANCE

The US stock market’s Q3 earnings season will test whether earnings and AI returns can support current valuations; high interest rates and overly high expectations could amplify volatility.

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The US stock market’s Q3 earnings season is about to begin, with “whether earnings growth is sufficient to match current valuations” becoming the focus

BlockBeats reported that October 12, the US stock market’s Q3 earnings season is about to begin. Wall Street expects S&P 500 constituent earnings to grow approximately 29%–31%year on year, with roughly two-thirds coming from large technology companies such as Alphabet, Amazon, and Meta; earnings growth in the semiconductor industry is even faster. Market attention has shifted from “whether earnings are growing” to “whether earnings growth is sufficient to match current valuations.” Investors will focus on finding three answers:AI whether capital expenditure can translate into actual revenue and profits, whether AI demand can spread from technology to more industries, and whether companies are beginning to feel the impact of rising financing costs.

The current 10-year US Treasury yield has risen above 5%, with high interest rates continuing to suppress stock valuations; companies need stronger earnings to maintain elevated levels. Large banks will be the first to release earnings, providing key signals on credit demand, consumer credit quality, and the path of interest rates. The biggest market risk is that earnings expectations have already been fully priced in: only a significant upside surprise can drive further valuation expansion; otherwise, high oil prices, elevated yields, and uncertainty surrounding the AI return cycle could trigger greater volatility.AI Whether the growth story can translate into AI earnings will become the core test of the rationale behind the US stock market’s rise during this earnings season.

Key companies’ earnings release schedule (Eastern Time):

October 13(Tuesday) Before market open: JPMorgan (JPM), Goldman Sachs (GS), Wells Fargo (WFC), Citigroup (C), and other large banks will lead the way;

October 14(Wednesday): Bank of America (BAC), Morgan Stanley (MS), BlackRock (BLK）、ASML；

October 15(Thursday): TSMC (TSM）。

October In the latter part of the month, major technology companies will release earnings in quick succession:

Microsoft (MSFT）、Alphabet（GOOGL) is expected to report October 27 after market close;

Meta is expected to report October 28 after market close; Apple (AAPL), Amazon (AMZN) are expected to report October 29 after market close;

Tesla (TSLA) is expected to report October 21 after market close; NVIDIA (NVDA) is expected to report at around November 17.

Crypto companies:

Coinbase（COIN) is expected to report October 29 after market close;

Key points

BlockBeats reported that the US stock market’s Q3 earnings season is about to begin.
Wall Street expects S&P 500 constituent earnings to grow approximately 29%–31%year on year, with roughly two-thirds coming from large technology companies such as Alphabet, Amazon, and Meta.
The article stated that the current 10-year US Treasury yield has risen above 5%.
The market is focusing on AI whether capital expenditure can translate into revenue and profits,AI whether demand can spread to more industries, and whether rising financing costs are affecting companies.
Large banks will be the first to release earnings; the article believes their reports can provide signals on credit demand, consumer credit quality, and the path of interest rates.
The article listed the expected earnings release dates for JPMorgan, Goldman Sachs, Wells Fargo, Citigroup, Bank of America, Morgan Stanley, BlackRock,ASML and TSMC, among other companies.
The article also listed the expected earnings release dates for Microsoft, Alphabet, Meta, Apple, Amazon, Tesla, NVIDIA,Coinbase, Strategy, Marathon, and Riot.

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

Earnings season is a period when many companies disclose their operating results in quick succession. The core question here is not simply whether companies are making money, but whether earnings growth is sufficient to support current stock valuations. The article focuses particularly on whether companies can obtain actual revenue and profits after investing AI and whether high financing costs are beginning to affect operations.

Why it matters to readers

If reported earnings and forward guidance significantly exceed market expectations, the article believes valuations may continue to expand; if performance falls short, high oil prices, elevated yields, and AI uncertainty surrounding the return cycle could bring greater market volatility.

Beginners should focus on companies’ actual earnings, forward guidance, and AI returns on investment, rather than making judgments solely on the basis of market expectations or expected earnings dates.

Risks and unknowns

Data such as earnings growth of approximately 29%–31%year on year and roughly two-thirds coming from large technology companies were not accompanied by original data sources.
10 The claim that the 5%-year US Treasury yield rose above
was not accompanied by a corresponding market-data source or specific observation time.
The earnings dates for multiple companies were described as “expected” or “approximately,” and may still be revised.AI The article’s statements that high interest rates suppress valuations and that oil prices and

The US stock market’s Q3 earnings season is about to begin, with the market focused on whether earnings can support high valuations

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